Egypt becomes member of the New Development Bank

• Egypt becomes fourth new member of the New Development Bank (NDB) that was established by the BRICS countries six years ago.
• The NDB admitted Bangladesh, United Arab Emirates (UAE) and Uruguay as its new members in September.
• The BRICS group includes five major emerging countries around the world- Brazil, Russia, India, China, and South Africa.
• The BRICS brings together five of the largest developing countries of the world, representing 41 per cent of the global population, 24 per cent of the global GDP and 16 per cent of the global trade.
• List of New Development Bank member countries - Brazil, Russia, China, India, South Africa, Bangladesh, Uruguay, United Arab Emirates, Egypt.